All properties in the Special Flood Hazard Area (SFHA) are required to purchase flood insurance. Since 25% of flood damage occurs in properties, not in a high-risk zone, it may also be a good idea to purchase flood insurance even if you are not in an SFHA.
The National Flood Insurance Program (NFIP) offers federally backed flood insurance in communities that comply with the minimum standards for floodplain management. The NFIP imposes a 30-day waiting period after the purchase of flood insurance, so it is important to purchase flood insurance before the beginning of the rainy season to protect your home in the event of a flood.
NFIP policies can also help provide funding to assist in bringing structures into current building standards to reduce the risk of flood damage.